How to go about securing the best rate and plan for your credit card in Canada.
Latest News
WestJet Rewards Member Exclusive Fares being paused as of June 25 + MORE Jun 19th
Thanks to long time Rewards Canada reader CanadianPilgrim for alerting us to this news from WestJet Rewards. The news is that of June 25 WestJet is pausing their Member Exclusive Fares reward option. This is one of the lesser known yet most valuable redemption options in the WestJet Rewards program..... More »
Earn up to 60,000 Bonus Avios^ with the RBC British Airways Visa Infinite Card Sep 11th
The next card to lay claim to fame with a best ever welcome bonus is the RBC British Airways Visa Infinite Card. We've seen this card sit steady with its current offer of up to 50,000 Avios offer since October of 2017, but that all changes now. RBC has bumped the offer up by 10,000 Avios so th.... More »
How you're not teaching kids responsible credit card use + MORE Aug 4th
Children are observers and parents unwittingly tend to do things just about guaranteed to show kids exactly what not to do with credit cards..... More »
Wow! Neo Financial to issue Cathay Pacific credit cards! Aug 3rd
File this under ‘didn’t see that coming’! News was sent to us this morning that Neo Financial has taken the Cathay Pacific co-brand credit card partnership away from RBC. The Cathay Pacific Credit Card powered by Neo Financial will be offered in both a standard non-secured version .... More »
What's going on with the mbna Alaska Airlines MasterCard? + MORE Apr 28th
You may have noticed that as of April 26th the mbna Alaska Airlines MasterCard disappeared from the mbna website and even when you click on the link for the card from Alaska's website you get the following:We talked to our contact at TB/mbna today for some clarification on what is happening.The card.... More »
Earn Double Aeroplan Miles for Choice Hotel stays Worldwide
– RewardsCanada.ca
Choice Hotels and Aeroplan have returned with their Double Miles offer for stays at Choice Hotels (Quality Inn, Comfort Inn, Comfort Suites, Travelodge etc.) around the globe. We just saw this offer end on July 31st so it is nice to see back already!Offer details:Double Aeroplan Miles for stays at over 5,500 Choice Hotels Worldwide. Full details and online booking. Until Nov 30, 16September 13 Update: Register for SPG’s More for You, American Airlines ending Halifax service & lots of great bonuses
– RewardsCanada.ca
News, Tips & Tricks Starwood Preferred Guest’s More for You promotion officially launched yesterday. Be sure you register to earn up to Triple Starpoints on your Starwood stays. Find out more here. American Airlines will be ending their service between Halifax and Philadelphia as of January 2017. Not the news Avios collectors in Nova Scotia want to hear as this was a decent redemption option for using British Airways Executive Club. You have until the 9th of January if this was a route you were planning on flying on to redeem 15,000 Avios for a roundtrip flight. (Source Routesonline) Earn 50 bonus AIR MILES for spending $30 or more at Rexall until the 15th when you use this coupon. Posts since our last update: Best Western Rewards: 1,000 Bonus Points and up to 15% off Worldwide stays this fall Best Western released their fall promotion yesterday and we were wrong. It’s not a gift card offer but simply…Earn Double Aeroplan Miles for Choice Hotel stays Worldwide Choice Hotels and Aeroplan have returned with their Double Miles offer for stays at Choice Hotels (Quality Inn, Comfort Inn,… Bonus Offers Air Canada / Aeroplan- Earn up to 2,500 Bonus Aeroplan Miles for stays at anyone of 100+ Marriott Hotel locations in Canada…Almost a million Canadians couldn't handle a 1-point interest rate rise, TransUnion says – CBC.ca
– news.google.ca
CBC.caAlmost a million Canadians couldn't handle a 1-point interest rate rise, TransUnion saysCBC.caAlmost a million Canadians wouldn't be able to handle even a one percentage point increase in the interest rate they pay on their debts, new research says. According to a report from credit-monitoring firm TransUnion, 26 million Canadians have some …'Payment shock': Interest rate rise could be trouble for up to 1 million CanadiansCTV NewsCanadian borrowers could face payment shock if interest rates riseThe Globe and MailBUSINESS REPORT: Less than 1% hike in interest rates would shake Canadian borrowersCKNW News Talk 980Financial Post -bnn.ca -630ched.com -Stockhouseall 12 news articles »
Interest rate hike could mean trouble for some
– moneysense.ca
TORONTO – A report by TransUnion says up to one million Canadian borrowers may not be able to absorb the increase in their monthly payments if interest rates rise by one full percentage point.
The company says that while the majority of Canadians will not be materially impacted in the near term by an interest rate increase there is a “material subset” that may be challenged.
TransUnion estimates approximately seven million Canadian consumers carry a variable-rate mortgage or a line of credit with a variable interest rate.
The study found more than 700,000 could struggle with the increase in monthly payments related to a quarter-point hike and that rises to up to a million with a one percentage point increase.
The Bank of Canada’s overnight interest rate target has been set at 0.5 per cent since it was cut twice last year. The rate is a key variable for the big banks when setting their prime rates and the rates for borrowing like variable rate mortgages and lines of credit.
Economists don’t expect the central bank to raise its key interest rate target any time soon, but it remains well below what is considered a normal level…
The company says that while the majority of Canadians will not be materially impacted in the near term by an interest rate increase there is a “material subset” that may be challenged.
TransUnion estimates approximately seven million Canadian consumers carry a variable-rate mortgage or a line of credit with a variable interest rate.
The study found more than 700,000 could struggle with the increase in monthly payments related to a quarter-point hike and that rises to up to a million with a one percentage point increase.
The Bank of Canada’s overnight interest rate target has been set at 0.5 per cent since it was cut twice last year. The rate is a key variable for the big banks when setting their prime rates and the rates for borrowing like variable rate mortgages and lines of credit.
Economists don’t expect the central bank to raise its key interest rate target any time soon, but it remains well below what is considered a normal level…
Almost a million Canadians couldn't handle a 1-point interest rate rise, TransUnion says – CBC.ca
– news.google.ca
CBC.caAlmost a million Canadians couldn't handle a 1-point interest rate rise, TransUnion saysCBC.caAlmost a million Canadians wouldn't be able to handle even a one percentage point increase in the interest rate they pay on their debts, new research says. According to a report from credit-monitoring firm TransUnion, 26 million Canadians have some …'Payment shock': Interest rate rise could be trouble for up to 1 million CanadiansCTV NewsCanadian borrowers could face payment shock if interest rates riseThe Globe and MailBUSINESS REPORT: Less than 1% hike in interest rates would shake Canadian borrowersCKNW News Talk 980Financial Post -bnn.ca -630ched.com -Stockhouseall 12 news articles »
